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Citigroup CEO Michael Corbat says 'trade is not dead' under Trump

  • "Trade is not dead. Trade is secular, not cyclical," Citi's Michael Corbat says.
  • On Tuesday, Citigroup outlined an ambitious plan to grow profit and return at least $60 billion to shareholders.

Citigroup investors don't need to be concerned about trade under President Donald Trump, CEO Michael Corbat told CNBC on Wednesday.

In part of a "Mad Money" interview airing in its entirety Wednesday evening, CNBC's Jim Cramer asked Corbat if he needs to worry about Trump's tough talk on trade.

Corbat responded, by saying: "Trade is not dead. Trade is secular, not cyclical."

"When we look at growth rates, sure, the whole world slowed. But the relationship between the developed and developing markets [is] very much intact. Emerging markets [are] still growing at nearly two times the pace of developed markets," Corbat said.

On Tuesday, Citigroup outlined an ambitious plan to grow profit and return at least $60 billion to shareholders. In its first major investor conference in more than nine years, management described the blueprint as a sign Citi has finally regained its footing after the 2008 financial crisis when it needed three bailouts to survive.

Earlier this month, Citigroup reported better-than-expected second-quarter results. But the bank mentioned a slowdown in stock trading results.

Watch Corbat's full interview here:

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